So it's more feasible that someone is short selling to scoop up options? Don't think so, due to rules around what stocks actually cant be short sold.
Lets say you were one of the sophs that tipped in a substantial amount at 9c for quite a few shares + options. You don't want the case going forward that FGR needs to raise again, and at a price lower than you paid, plus you're mates with WG but you don't want to tip in more funds or you dont or wont have the funds available, so you sell some of your shares, hopefully for more than exercise price, so that you can convert the large number of options that you have and it costs you nothing but a bit of brokerage, but it ensures the company has cash and can meet targets, hence you're protecting your investment.
OR your that same soph already with a ton of options, but you want more, so you start selling near to expiry to force folks to sell oppies for next to nothing so you can scoop them up and convert the lot leaving you with a substantial holding. you need only sell a few hundred thousand to ensure you get your way.
OR folks are heading for the hills as they are of the opinion that oppies are dead and a CR will be needed so why not sell and buy in later, or indeed you're selling as the timelines have been blown out and you don't want to hold any more, and price is likely to retrace on account of dwindling funds and the need for a CR later.
All seem as feasible as whatever it was you were trying to sell.
and if it is option one above why would they buy more options, they got theirs for free in the first place.
If someone scoops up the options then it may lend weight to the theory that its a capper and this was the intention.
